No matter what you’re creating, whether it’s an employee benefits initiative, a new learning platform or a top-notch recognition program, you should always start your planning by defining your “why.”
As Simon Sinek, author of “Start With Why,” says, “When you start with ‘why’ in everything that you do, you inspire action in a way that ‘what’ doesn’t.” When you think about Employee Recognition, especially in today's market, you want to be able to create a strategy that is based on what you want to grow, for example:
1. Create a positive work environment.
2. Create a culture of recognition.
3. Motivate high performance.
4. Reinforce certain behaviors
I believe that every company, no matter what size or what industry it’s in, needs some kind of recognition program. The good news is that it doesn’t have to be expensive. I once saw a company use simple Post-its as a way to recognize their workforce, but it does have to be a priority — 82% of employees surveyed by Gallup say praise and recognition are leading factors in helping them improve their job performance. If you don’t have a recognition program, ask yourself, can my company afford not to have 82% of my workforce not at their peak performance?
Employee Recognition Facts:
Did you know… 50% of employees surveyed would leave a company if they weren’t regularly thanked and recognized for their efforts. (Source: Reward Gateway survey, 2017)
Peer-to-peer recognition is 36% more likely to have a positive impact on financial results than manager-only recognition. (Source: SHRM)
54% of employees feel their boss could do more to appreciate them. (Source: Reward Gateway survey, 2017).
By building a program with purpose, you’ll have a better chance of addressing these challenges and introducing positive changes to both your people and your business.
Source: Reward Gateway- Steps to Recognition Program Success